So I’ve seen a few posts about AUD/JPY claiming it is in a bearish! I disagree and here’s why
1. If you check the 4h chart you can see a strong level around 94.4 (support) it has been tested multiple times, you can also see a strong level around the 95 area (resistance)
2. Price on the 1 hour chart made a false breakout on a short term trendline but If you check the trendline on the 4 hour chart there was no beak out and it was respected
3. Last but not least on the 1 hour chart you can also see a bullish break of structure which indicates more potential to the upside and the 94.4 level was also retested and bounced right back off on the 1 hour chart
So last but not least I’m bullish to the level 95
1. If you check the 4h chart you can see a strong level around 94.4 (support) it has been tested multiple times, you can also see a strong level around the 95 area (resistance)
2. Price on the 1 hour chart made a false breakout on a short term trendline but If you check the trendline on the 4 hour chart there was no beak out and it was respected
3. Last but not least on the 1 hour chart you can also see a bullish break of structure which indicates more potential to the upside and the 94.4 level was also retested and bounced right back off on the 1 hour chart
So last but not least I’m bullish to the level 95
